RATE Group | Ripple jumps 5% pulling Bitcoin and Ethereum upwards
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Ripple jumps 5% pulling Bitcoin and Ethereum upwards

17 Oct Ripple jumps 5% pulling Bitcoin and Ethereum upwards

Posted at 18:13h in Cryptocurrency News by

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  • Ripple bulls make a comeback after defending $0.28 short-term support.
  • Bitcoin resurfaces above $8,000 ahead of a falling wedge pattern breakout.
  • Ethereum impressively rises from the key support at $170 but the upside is capped under the descending channel.

The cryptocurrency market is unapologetically acting like a beast. It swings as it wishes in the most unexpected conditions. For instance, the market suffered under the bears’ wrath on Wednesday dropping from $222 billion to close the day at $216 billion. Intriguingly, a recovery led by Ripple has seen the market grow to $219 billion on Thursday during the European trading session.

Ripple market update

Ripple is grinding closer to $0.30 after testing the short-term support at $0.28. The 5% jump on the day comes as s surprise to many. Besides, in my earlier analysis I said that if Ripple breached the ascending channel support, chances of recovery will not only be minimal but also could cause breakdown…

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